The process of arbitration is quite different from the process of litigation. There are a number of differences between the two processes. Firstly, the process of arbitration is private and informal as compared to litigation which is a formal courtroom process. Secondly, arbitration is comparatively a very quicker process than litigation as the cases are heard immediately. Thirdly, the costs in the process of arbitration are limited to the fees given to the arbitrator and the attorney. Litigation costs are generally very high. Fourthly, in arbitration proceeding it is the parties who jointly decide on who will be the arbitrator and in cases of litigation in this area the parties do not have any say. Fifthly in cases of arbitration, even though attorneys are present they do not have much role but in cases of litigation the attorneys have a huge role to play. Further, in cases of arbitration there is a very limited process for evidence as it is the arbitrator who controls what evidence would be required and is to be permitted. However in case of litigation it is necessary that there is full disclosure of evidences from both the parties in the litigation. Also there is no interrogation or discovery process in cases of arbitration. And finally in arbitration cases the parties cannot appeal unless such a clause is present in the agreement. In case of litigation there are chances of a number of appeals.
There are a number of cases that are resolved through the process of arbitration. In the country of Singapore most arbitration cases are sorted by the Singapore International Arbitration Center.
One real life case on arbitration would be a case between Indonesia who was the claimant and Vietnam who was the respondent. The arbitration case was regarding the performance of a bond and the failure to make any payment regarding the same (Amin, n.d.).
Another real life case on arbitration would be a case between Singapore who was the claimant and Hong Kong, who was the respondent. The case was regarding a system software agreement relating to a security trading. The contract regarding the same was breached and there was also a failure of payment (Amin, n.d.).
Amin, Z. Singapore International Arbitration Centre | Profile of Cases. Siac.org.sg. Retrieved 18 February 2015, from https://www.siac.org.sg/2014-11-03-13-33-43/facts-figures/profile-of-cases
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